What Do They Really Need to Know? Teaching Economics What Do They Really Need to Know?

Teach About Scarcity (goods & services) Resources (natural, human and capital) Costs and Benefits (saving & spending)

Goods & Services Tangible things --Goods Intangible things --Services Shelter, food, clothing, cars, book, games Intangible things --Services Entertainment, police protection, medical care, education, leisure time Making choices-- consumer

Natural, Human & Capital Make the goods and services---producers 3 types of resources Natural– nature & land Human –jobs people perform to meet the needs (dentists, barbers, policemen, farmers..etc..) Capital – goods made for others to use to make goods…such as tractors for farmers, trains and trucks that haul the goods, machines in factories..etc..

Cost & Benefits How much does it cost? What benefit will I get by buying it? Use practical day to day experiences Teach about money..banks—saving & spending; advertisement’s effect on spending

Advertising Exposure to products Main sources TV Radio Internet Activities should focus on ways to avoid falling into the “Buy ME ..You have to Have Me” (propaganda)

Money Banks, Earning Saving Spending Activities should focus on personal finance..

Instructional Tools Literature Skits/Plays Simulations “Video” Games Alexander, Who Use to Be Rich Last Sunday” Skits/Plays Simulations “Decisions, Decisions” “Video” Games Sim City Lemonade Stand Zoo Tycoon

Resources http://ecedweb.unomaha.edu/home.htm http://tqjunior.thinkquest.org/3901 http://www.practicalmoneyskills.com/foreducators/ http://www.kidsbank.com/index_2.asp http://www.coolmath-games.com/lemonade/index.html http://www.socialstudiesforkids.com/subjects/economicsgames.htm http://www.kidsturncentral.com/links/moneylinks.htm http://www2.scholastic.com/browse/collection.jsp?id=455